Note: This version of section effective until 1-1-2019. See also following repeal of this chapter, effective 1-1-2019.

1. (b) A plan must apply to at least the twelve (12) budget years immediately following the year the plan is adopted.

2. (c) A plan must at least include the following:

   1. (1) An estimate for each year to which it applies of the nature and amount of proposed expenditures from the fund.
   2. (2) A presumption that the minimum useful life of a school bus is not less than twelve (12) years.

   3. (3) An identification of:

      1. (A) the source of all revenue to be dedicated to the proposed expenditures in the upcoming budget year; and
      2. (B) the amount of property taxes to be collected in that year and the unexpended balance to be retained in the fund for expenditures proposed for a later year.

   4. (4) If the school corporation is seeking to:

      1. (A) acquire; or

      2. (B) contract for transportation services that will provide;

         additional school buses or school buses with a larger seating capacity as compared with the number and type of school buses from the prior school year, evidence of a demand for increased transportation services within the school corporation. Clause (B) does not apply if contracted transportation services are not paid from the fund.

   5. (5) If the school corporation is seeking to:

      1. (A) replace an existing school bus earlier than twelve (12) years after the existing school bus was originally acquired; or

      2. (B) require a contractor to replace a school bus;

         evidence that the need exists for the replacement of the school bus. Clause (B) does not apply if contracted transportation services are not paid from the fund.

   6. (6) Evidence that the school corporation that seeks to acquire additional school buses under this section is acquiring or contracting for the school buses only for the purposes specified in subdivision (4) or for replacement purposes.

      [Pre-2006 Recodification Citation: 21-2-11.5-3.1(c).]

Sec. 8. (a) The department of local government finance shall prescribe the format of the plan.

As added by P.L.2-2006, SEC.169. Amended by P.L.146-2008, SEC.506.